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De-industrialisation
Deindustrialization refers to the process of a country or region shifting away from manufacturing and industry as the primary drivers of economic growth, and towards service-based industries such as finance, healthcare, and technology.
Deindustrialization can occur for a variety of reasons, including technological change, globalization, and shifts in consumer demand.
Deindustrialization has occurred in many countries around the world in recent decades. Some examples of countries that have experienced deindustrialization include:
- United States: The United States has seen a significant decline in manufacturing employment in recent decades, as many jobs have been lost to automation or moved to other countries with lower labor costs.
- United Kingdom: The UK has also experienced deindustrialization, with a decline in the number of manufacturing jobs and an increase in service-based industries.